GoKawiil
Tech News
Bumble has added a feature called Handles, giving users searchable usernames similar to those on social media platforms. The feature lets people look up a specific person on the app directly if they already know that person's username, rather than relying solely on the app's matching algorithm.
Bumble announced a $1.3 billion acquisition agreement with Ithaca Holdings that would take the dating app private. The deal follows a strategic review by an independent board committee, with founder Whitney Wolfe Herd abstaining from the vote but planning to stay involved alongside Ithaca executives Ravi Gupta and John Hegeman. Bumble's latest quarter showed revenue down 15.2% year over year to $211 million and paying users down 16.4% to about 3.2 million.
Bumble has agreed to a deal that will take the dating app company private, sending its shares sharply higher. The move follows a turbulent stretch for the company, including a CEO change and efforts to use AI to improve matchmaking, as user interest in dating apps has waned industry-wide.
Bumble's stock surged nearly 50% on Monday following a Wall Street Journal report that technology holding company Ithaca is in advanced talks to buy the dating app for about $1bn, with a deal possibly announced this week. The rally still leaves Bumble's market value around $580m, far below the $14bn it hit after its 2021 Nasdaq listing. Both companies have been contacted for comment.